I don't understand the proposal. Why would a seller want to be entangled in an offer to buy back the property, when most of the time sellers are either trying to get rid of it because they're going somewhere far away, or they need the money (possibly to buy a different property)? And even if that weren't the case, why would the seller want to continue to own the risk of fluctuation in the real estate value? On the flip side, if they buyer is buying because they think its value will go up, why would they want a deal like this?
Basically, it seems to me most condo or house purchasing falls into one of two categories:
* Real estate value: People who either want to take on the potential of higher value (as a way of saving money), or those who want to dump the risk of its value not going up.
* Homes. You own a place you live in, to have control over it. You sell when you move out, because you don't want to have to care about it anymore.
Yay, a real comment! I'm sorry I missed this. I thought I got email alerts, but maybe they're going to spam due to too many spam comments? I'll look into that
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In other words, you have a vision of a real estate market that's primarily about investing, and people buying and selling properties for the purpose of making money. I'm thinking of that chunk of the real estate market - which I suspect is a solid majority - that's focused on the actual properties, and using them for their intended purpose. Homeowners who buy one place at a time, to live in, and sell it not based on value but because they want to move. Things like that. In that light, I still don't understand how this proposal would make sense to most sellers.
I'll agree that most people that buy houses probably do so in order to live in the houses. However, it is still a fact that they are tying up most of their life savings in a single risky investment. And, most homebuyers factor things like price into their decision to buy or even their decision as to whether to move between houses. A lot of people (possibly me included) even avoid buying at all because buying a home would be too risky - we never know what will happen if someday we do decide to move (this house went down in value? There goes the dream
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Comments 4
Basically, it seems to me most condo or house purchasing falls into one of two categories:
* Real estate value: People who either want to take on the potential of higher value (as a way of saving money), or those who want to dump the risk of its value not going up.
* Homes. You own a place you live in, to have control over it. You sell when you move out, because you don't want to have to care about it anymore.
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